ABDN Share Scheme Closing

rangers_fc

ABDN share plans holding investment trust share are closing. Is this likely to have any implications for the share price or are they mearly a broker that holds the investments on your behalf? 

As I understand it I can transfer the shares into ii with a cost of £120 per annum

or transfer to another company to hold the shares on my behalf.

Im not grasping the implications of selling shares within a ISA, if I was to sell the shares 

but retain the cash from the sale in the ISA is there tax implications.

I am also a bit confused about dividend currently with abdn divendend is reinvested dividends at relatively low cost.

I was considering transfering my holdings to IWEB, if this is possible, has anyone done this, As I have a ISA account with them currently, from a previous year investment.

If I understand correctly dividends would not be automatically reinvested under this scenario. So I would have to let the dividends build up to a reasnoble ammount, then reinvest to shares I select.

Costs to withdrawing/ transfering the shares from a ABDN ISA account are £18 per holding

Cost of holding in ABDN ISA £28 Annually currently

Cost of utilising IWEB account £100 initially for account setup then £5 per purchase

ColdIron

Existing thread you might read

https://forums.moneysavingexpert.com/discussion/6456870/closure-of-the-abrdn-investment-trusts-saving-plans/p1

wmb194

rangers_fc said:

ABDN share plans holding investment trust share are closing. Is this likely to have any implications for the share price or are they mearly a broker that holds the investments on your behalf? 

As I understand it I can transfer the shares into ii with a cost of £120 per annum

or transfer to another company to hold the shares on my behalf.

Im not grasping the implications of selling shares within a ISA, if I was to sell the shares 

but retain the cash from the sale in the ISA is there tax implications.

I am also a bit confused about dividend currently with abdn divendend is reinvested dividends at relatively low cost.

I was considering transfering my holdings to IWEB, if this is possible, has anyone done this, As I have a ISA account with them currently, from a previous year investment.

If I understand correctly dividends would not be automatically reinvested under this scenario. So I would have to let the dividends build up to a reasnoble ammount, then reinvest to shares I select.

Costs to withdrawing/ transfering the shares from a ABDN ISA account are £18 per holding

Cost of holding in ABDN ISA £28 Annually currently

Cost of utilising IWEB account £100 initially for account setup then £5 per purchase

There are no tax implications from selling shares and holding cash within an Isa - that's the whole point of them.  Rather than another S&S Isa, if you wished you could transfer the cash to a Cash Isa.

iWeb offers dividend reinvestment, "Dividend reinvestment purchases are charged at 2% of the dividend value, and capped at a maximum of £5 per stock."

https://www.iweb-sharedealing.co.uk/charges.html#:~:text=Dividend%20reinvestment%20purchases%20are%20charged,of%20%C2%A35%20per%20stock.

I've transferred ISAs and GIAs to iWeb and although one of them took an inordinately long time had no issues.

If you already have an iWeb account you won't be charged the £100 account opening fee.